Best bank: CaixaBank
Even its rivals in Spain admit to feeling the impact last year as CaixaBank moved on from integrating Bankia to concentrating more exclusively on developing its business organically. This is evident, for example, in the savings market, where its customer funds increased by 3.1% in 2023. In insurance, a vital part of the group’s activities, there was also healthy growth, with a 7% volume growth in general and life risk premiums.
AfE 2024
There was further evidence to validate the premise of the merger with Bankia, which was that CaixaBank’s insurance and asset management expertise would help the firm realize synergies. The percentage of former Bankia clients with non-life insurance products, for example, rose to 14.8% in 2023, compared with 10.8% immediately after the merger’s legal completion in March. As the proportion among other CaixaBank clients is 20.2%,